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We told you all about today's unveiling of Facebook Home and the HTC First, and now Facebook has made the video recording of the announcement available for your viewing pleasure. Facebook's CEO Mark Zuckerberg is on his A-game in this one. Check out the full video after the break.

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This morning Facebook revealed a new Android-based mobile initiative called Facebook Home. Mark Zuckerberg was on hand to talk about what would happen if your phone was made to be about "people, not apps," and the result is Facebook Home.

While many assumed that Facebook would be releasing its own hardware device (despite our assurance that it wouldn't!), Home is, instead, a suite of Facebook apps that work together to put Facebook front and center across your entire Android device, making it feel like a "Facebook Phone." For example, in the Coverfeed app, it takes over both the Android homescreen and lock screen, and then provides a regular stream of updates from your friends--all without you tapping a Facebook app icon or even swiping to unlock. From the home screen you can even comment and like the updates that flow across your display.

Facebook has announced a greatly revamped News Feed that hopes to beautify all the content that you consume on the social network. The new News Feed separates the different categories of content, making it easier to get to, say, just photo updates, or music updates, or groups, for example. Mark Zuckerberg says the new design is akin to a "personalized newspaper." The thought behind the changes are that people are sharing more and more multimedia--images, videos, links with previews…so why not take advantage of the screen space and optimize it?

This morning during the Facebook f8 keynote, Mark Zuckerberg introduced Timeline, a new way to express who you are on Facebook. It's a reverse chronological timeline of the most important pieces of content that you've shared on Facebook, which you have control over curating. Facebook apps will be able to add to your Timeline as well, and it's been built to look great on both desktops and mobile devices. Expect the feature to be rolled out sometime within the next few weeks, but you can get a peek at the goodness in the video above.

Facebook head Mark Zuckerberg is set to take the stage in just about 15 minutes to kick off Facebook's f8 Developers Conference. You can watch the event unfold live, right here--just hit the play button up top.

We're expecting a bunch of new hotness to be revealed, including the new Facebook music initiative, and a major expansion and re-thinking of the Like button. Also expect new features around news publications, video, and Facebook games as well. It'll be a full morning

Facebook began showing off its plans for a new data center and server design on Thursday. It will be called the "Open Compute Project," executives said.

Facebook is making the design documents and specifications public at OpenCompute.org. The company claims that the design of the new servers is 38 percent more power efficient than its older designs, and costs 24 percent less to make.

Graham Weston, the chairman of Rackspace, said that his company would use the new Open Compute servers in its own designs, and Zynga's chief technical officer said that his company would take a serious look at adding the new technology to its own cloud.

Industry executives said that the new server designs will have a positive impact not just on the IT industry, but also with emerging countries that may not have the R&D resources to design their own power-efficient servers and data centers. Instead, they said, they can leverage the collective expertise. With the cost savings that the new server designs enable, those savings can be passed along to service companies that use web hosting to drive their businesses.

"This is how Facebook kicks Google's ass," said Robert Scoble, a blogger for Rackspace, one of the companies that will use the technology. The new data center does not use a "chiller," he said. Instead, it puts fine particles of water in the air and cools the server through evaporative cooling.

TIME Magazine can’t stress enough the fact that their Person of the Year award “is not an honor”. In 1938, Adolf Hitler was named TIME Magazine’s Person of the Year. Unlike Hitler, however, Mark Zuckerberg fast tracked the world to complete connectivity through a global social network. And at a baby-ish 26 years of age, billionaire college dropout Zuckerberg is responsible for leading 550 million (or 1 out of every 12 people) into the social network at an astounding rate of 700,000 a day. If 700,000 is too big a number to comprehend, imagine that if you lived for 700,000 days you’d be 1,918 years old; which by that time Facebook would have added over 490 billion members, or about 72 times the Earth’s current population. Starting to get the picture? There’s no doubt that Facebook is a social revolution that won’t go the way of the dinosaur - *cough* MySpace *cough*. But the bigger question is where will it go?

Fortune has gone all tech on us this week, compiling a list of who they think are the fifty smartest people in tech. We found it interesting because most lists focus on the richest CEOs, or straight up performance on the job rather than things like intelligence, and the vision and impact they have on the tech world. The way they did it was to break the list down into ten categories (smartest CEO, smartest founder, etc.) and then list five names in each, listing a top choice for each category in the process. Here’s a peek at what they came up with:

The social media Internets are all up in arms this afternoon with the news that FriendFeed has been acquired by Facebook. The full details were announced on the FriendFeed blog, and according to the press release, “all FriendFeed employees will join Facebook and FriendFeed’s four founders will hold senior roles on Facebook’s engineering and product teams.”

A lot of the recent Facebook feature additions have been borrowed from, or inspired by, FriendFeed, so the move only makes sense. It brings Facebook directly into the real-time web scene, as they take aim for Twitter.

There is a lot of speculation right now as to what exactly will become of the FriendFeed product, since there is quite a bit of overlap between what FriendFeed does and what Facebook does. Fans of FriendFeed fear that all the features will be rolled into Facebook, while FriendFeed ceases to exist. All we know for now is that “FriendFeed.com will continue to operate normally for the time being. We’re still figuring out our longer-term plans for the product with the Facebook team.” Kind of ominous, I know.

Still, if handled right, Facebook may become the standard for both connecting and real-time sharable status updates. Full press release after the cut.